Union Minister for Petroleum and Natural Gas Hardeep Singh Puri is set to introduce the Oilfields (Regulation and Development) Amendment Bill, 2024 in the Rajya Sabha today.
The bill aims to update the Oilfields (Regulation and Development) Act of 1948, potentially bringing sweeping changes to the sector.
As part of Monday’s parliamentary proceedings, Minister of State Suresh Gopi will present a crucial audit report on Information Systems of selected Central Public Sector Enterprises in the oil and gas sector.
The parliament will also continue debates on the functioning of key ministries, including Agriculture and Farmers Welfare, New and Renewable Energy, and Cooperation.
In the Lok Sabha, Law Minister Arjun Ram Meghwal is scheduled to introduce a bill to readjust Scheduled Tribe representation in Goa’s Assembly constituencies. Additionally, motions for electing members to the National Jute Board and Employees’ State Insurance Corporation will be moved in the lower house.
Several other ministers are set to present papers related to their respective ministries in both houses of Parliament. This flurry of legislative activity comes as the Monsoon Session, which began on July 22, enters its final week. The session is scheduled to conclude on August 12, with lawmakers racing to address a packed agenda of bills and discussions.
The introduction of the Oilfields Amendment Bill is particularly noteworthy, as it could have far-reaching implications for India’s energy sector. Industry experts and opposition members will be closely watching the proposed changes to this 76-year-old legislation.
(Inputs from ANI)